Edery of Paradigm Funding Group secures ten loans totaling $39.09 million

According to Paradigm Funding Group LLC, Michael Edery, founder and managing member of Paradigm Funding has closed the following ten loans, totaling $39.09 million, representing some of the loans closed within the last 45 days. $2.9 million was secured by a 6-story walk-up apartment building located on St. Nicholas Pl. in Manhattan. The loan, which has a term of 15 years, bears interest at a rate of 6% and was fully non-recourse to the borrower. $2.29 million was secured by a 6-story walk-up apartment building on West 48th in the Clinton area of Manhattan. This loan, which has a term of 15 years, bears interest at 6.125% and was non-recourse to the borrower. $3.4 million was secured by two 4-story elevator apartment buildings located in Westchester County. This loan, which has a term of ten years, bears interest at 5.75% and is on a fully interest only basis. $3 million was secured by three 5-story walk-up apartment buildings located on East 39th St. in the Murray Hill neighborhood of Manhattan. This loan, which has a term of ten years, bears interest at 5.75%, and is on a fully interest only basis. $3 million has been secured by three 5-story walk-up apartment buildings located on West 100th St. in the Upper West Side of Manhattan. This loan, which has a term of 15 years, bears interest at a rate of 5.875%, and is on a fully interest only basis. $2.2 million was secured by a newly constructed 6-story walk-up apartment building located on Orchard St. in Manhattan's Lower East Side. This loan, which has a term of ten years, bears interest at 5.625%. $1.701 million was secured by a four story walk-up apartment building with ground floor retail located on West 77th in the Bensonhurst neighborhood of Brooklyn. This loan, which has a term of five years, bears interest at 6.375%. $873,000 was secured by a four story walk-up apartment building located on West 8th St.  in the Bensonhurst neighborhood of Brooklyn. This loan, which has a term of five years, bears interest at a rate of 6.375%. $9.874 million was secured by a skilled nursing facility in Media, Penn. The loan, which has a term of 35 years, bears interest at a rate of 6.7% fixed for the life of the loan, and was fully non-recourse to the principal of the borrower. $9.851 million was secured by a skilled nursing facility in Delaware. The loan, which has a term of 35 years, bears interest at a rate of 6.5% fixed for the life of the loan, and was non-recourse to the principal of the borrower.